The Housing Development Corporation of Rock Hill

Analysis

The Housing Development Corporation of Rock Hill is a registered charity in United States, based in Rock Hill, SC. It received its IRS tax-exemption ruling in May 1991, 35 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, The Housing Development Corporation of Rock Hill reported income of $1.1m and spending of $825k, leaving 25% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.1m to $1.1m (-47%), an average of -15% a year. The sharpest change came in the year to June 2022, when income dropped by 49%. Over the whole period it spent 71% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, The Housing Development Corporation of Rock Hill sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 84th percentile within SC. Charities of a similar size with the same main cause include Miami Valley In-Ovations Incorporated ($1.1m), Neighborhood Preservation Foundation Inc ($1.1m) and Hhoc Mortgage ($1.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $5.3m against liabilities of $1.5m, net assets of $3.8m.